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Interesting Comments From Patrick Byrne And Paul Elio...

Discussion in 'General Elio Discussion' started by ElioWallSteet, May 9, 2018.

  1. ElioWallSteet

    ElioWallSteet Elio Aficionado

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    Here’s a few comments from a TV interview with Patrick Byrne and Paul Elio...

    And I quote today’s KUTV interview...

    >>>> Elio admits his company has struggled with funding.

    "Our capital markets are broken," Elio said."I don’t think it was us. The system is broken."

    The car company needs roughly $375-million to start production. So far, the company has raised $115-million.

    "I think cryptocurrency is part of that solution," Elio said during the news conference without going into detail.

    According to Byrne, the car company will raise money by selling security tokens similar to the cryptocurrency bitcoin.

    "I’m actually more excited about the token," said Byrne, explaining that people who buy the coin won't have to wait in line to buy a car. <<<<

    Hummm...does this mean the current reservation holders go to the back of the line...hard to understand Byrne’s thought process!
     
    Last edited: May 10, 2018
    Jim Johnston likes this.
  2. Sega

    Sega Elio Aficionado

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    Oh yeah, blame the market! He always has some excuse and the next thing (that they are doing at the times) seems to be the answer according to him.

    Raised $115M but have almost nothing to show. THAT is the problem. Not even a small fleet produced for the very early reservation holders. NOTHING! They should have at least 1 of these by now that is driving on the roads as a marketing campaign! Have 5 of them on the road and let people see them. Have a social media campaign that says "Where's Elio?!"......but no. $175million couldn't even get that.
     
    Elf and RUCRAYZE like this.
  3. ABC123

    ABC123 Elio Aficionado

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    I emailed Elio to get PDF copies of my lock-in and SIL documentation. If coin buyers jump in from of the all in SIL people, I'm really gonna be pissed.
     
    msmith5150, Elio Amazed and Bamdalam like this.
  4. RSchneider

    RSchneider Elio Addict

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    From Pat Byrne:
    https://seekingalpha.com/article/41...yrne-q1-2018-earnings-call-transcript?page=12

    https://seekingalpha.com/article/41...yrne-q1-2018-earnings-call-transcript?page=11

    Looks good for me. I can just take all of what I earned on Elio stock and get a car lots faster than most of you. Thank You Eliocoin. I knew being patient would pay off. Also, looks like Pat Byrne got the amount to production lowered by $176.6M. I knew he was good at what he does by trimming out the fat.
     
  5. Elio Amazed

    Elio Amazed Elio Addict

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    Thanks booboo for that transcript.
    I got to read the first page and a half before seeking alpha told me I had to register for the other 13 pages.
    What I did read sure looked like the typical unclear David Byrne rambling he's well known for.

    Actually what it looks like is a deal-breaker with a good number of the 65,000 current reservation holders.
    If indeed we were paying for a SIL, and not a guaranteed car, as I've heard over and over again...
    IMO, it might also be legal grounds to be entitled to our "non-refundable" back.

    So...supposedly 'when' they finally raise enough money to get tZero finished...
    Last week Eliocoin was initially going to only be available to qualified institutional investors.
    But as of today it will be an auction currency to (what sounds like) leapfrog over all the reservation holders.

    So... doesn't it sound a little like they're making this up on the fly?
    Or is this just basically the same reservation program in a convoluted wrapping?
    In a video recorded yesterday Patrick Byrne didn't even know how to pronounce "Elio" correctly.

    I guess we'll have to wait until Friday for Paul Elio to clarify all of this. ;).
     
    Last edited: May 10, 2018
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  6. Made in USA

    Made in USA Elio Addict

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    I guess the real question is would you be upset if your "spot-in-line" was pushed back by people willing to spend a lot more for the Elio? I'm thinking it might be advantageous to let the "rich" people help get the production running sooner and think of the free advertising the Elio would get. That might make ours worth more in the long run. Those with a locked in price might just get a better deal in the long run. I really don't think there would be so many auctions that it would delay getting our Elio's by more than a month or so. I could handle that.

    Elio could also give us the option to pay the total price now (without options) as a way to raise even more money. This however would need to be a "sale" and not just a spot in line.
     
  7. Mel

    Mel Elio Addict

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    But if they are not going to honor our "Spot-in-line", what makes you think they will honor our "locked-in-price"?
     
  8. RSchneider

    RSchneider Elio Addict

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    I think that rich people will spend whatever it takes to get an Elio and get in front of the line. If it means spending $50K to do it, then I'm all for pushing everyone back in the queue. Plus those rich people will be driving around in their Elio and building a demand for it. Even the Hollywood types will get in on it and spend lots just to have the latest. This is having people pay to advertise for Elio. Elio will use that extra profit to make up for the locked in SIL's.
     
    Jim Johnston, AriLea and ecdriver711 like this.
  9. raptor213

    raptor213 Elio Addict

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    I have to agree with the positive sentiment regarding this ElioCoin proposition, as opposed to turning pessimistic. If allowing buyers with deeper pockets to leap-frog me in line enables the company to move closer to real production capability, then I'm all for it.

    Obviously my gut reaction at first was absolute disdain for the idea ever having been seriously considered. But after careful consideration, this is an end-around method of mimicking the Tesla Motors ramp-up to mass production, which has proven to be a viable business model.

    At a macroeconomic scale, first came the low-volume high-margin Roadster. Then came the moderate-volume high-margin Model S and X. Ultimately, the revenues obtained through those sales led to the high-volume low-margin Model 3.

    At a microeconomic scale, as production ramped up for each respective model, the fully-loaded and optioned-out variants with the highest and most profitable margins were produced and delivered first. Reservation holders opting for base model vehicles understood they would need to wait for their cars.

    If someone is willing to pony up extra money for the capitalist privilege of jumping ahead in line, and that enables Elio Motors to generate new capital which leads to real production, then I'm all for it. If the company never reaches production, then an all-in locked-in non-refundable Spot-in-Line is absolutely meaningless anyway. The last thing I'll do is whine about being leap-frogged as long as cars actually get delivered.
     
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